The leadership of the cryptocurrency trading platform KuCoin announced that the exchange will continue to hire employees.
Over the past few months, several major venues have announced layoffs. This is due to the bearish trend in the cryptocurrency market and the reduction in trading volume, which greatly affected the income of exchanges. Back at the beginning of the year, Coinbase planned to triple the number of employees, but it had to rethink its plans. In June, Crypto.com laid off 260 employees and Gemini cut its headcount by 10%. After that, rumors began to spread in the market that KuCoin had joined its competitors and was starting to reduce its staff amid the fall of the cryptocurrency market.
However, KuCoin denied the rumors, saying that only poorly performing employees are being fired, and the exchange intends to attract about 300 more specialists. CEO Johnny Lyu assured that the marketplace is not affiliated with the failed Terra ecosystem and does not even have investments in LUNA, UST and asset management products like UST. In addition, KuCoin does not plan to introduce any restrictions for users, such as blocking the withdrawal of funds.
KuCoin now has about 1,000 employees, and Liu promises to increase this number by about 30%. Basically, new specialists are going to replenish the technology and marketing departments, as well as the department for compliance with regulatory requirements.
“We believe that talented employees are the key to staying competitive in the cryptocurrency space. We will continue to expand despite the market downturn,” Liu wrote.
In early June, KuCoin announced the launch of its own cryptocurrency wallet platform, expanding its presence in the Web3 ecosystem.
Source: Bits
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